In 2011, Jubilee USA helped to found the Financial Accountability and Corporate Transparency (FACT) Coalition. The FACT Coalition is an alliance of civil society organizations from a vast array of issue areas that have come together to advocate for changes to our financial system in order to ensure economic justice both here in the United States and around the globe. Tax laws that contain loopholes allowing corporations to avoid paying a fair share of taxes, off-shore tax havens that conceal profits and funds, and corporate secrecy make it so that the world's poorest are forced to continuously shoulder the burden. FACT seeks policy changes that will bring morality and fairness to the financial system.
The policy changes FACT seeks include:
- Requiring ownership information of all business entities, trusts, foundations and charities - information that indicates who actually controls these entities - be made available to law enforcement and the public;
- Requiring country-by-country reporting by multinational corporations of the sales made, profits earned and taxes paid in every jurisdiction where an entity operates;
- Strengthening, standardizing and enforcing anti-money laundering laws; and
- Eliminating loopholes in our tax system to make sure that the corporations pay a fair share of taxes.